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Karmazin Exercises Options, Sells SIRI Stock


According to an SEC filing Wednesday, Sirius XM CEO Mel Karmazin has exercised options to purchase more than 5 million shares of SIRI stock at 43 cents per share and immediately sold the stock at prices of $2.37 to $2.45 per share.

Karmazin exercised the options on September 17, 18, and 19, according to the filing, to purchase the stock in blocks of 3,462,700, 950,000, and 740,000 shares. Each block of stock was sold the same day.

Sirius XM is expected to soon be under the control of Liberty Media, which is now estimated to now control about 49.5 percent of the company's common stock. As Radio Ink reported earlier, Karmazin has he is uncertain about his future with the company.

(9/19/2012 9:49:59 PM)
"Vell", as my Uncle Max used to say. "It's a living."

- Ronald T. Robinson

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